TOPEKA, Kan. (AP) – Kansas Gov. Sam Brownback is preparing to tout the state’s sale of $1 billion in bonds as a boost to the financial health of the pension system for teachers and government workers.
Brownback scheduled a Friday morning news conference at the Statehouse with Executive Director Alan Conroy of the Kansas Public Employees Retirement System.
The state sold the bonds last month. State officials expect the pension system to earn more from investing the proceeds than it will pay in interest to investors.
The move is aimed at making it easier to close a long-term funding gap facing the system. Supporters compare it to paying off high-interest credit card debt with a lower-interest loan.
But some financial analysts have said the state is increasing its financial risks.